the. keys of mine old cars. are a sense for you now with the palm of your. comb . nine thirty am in moscow these iraqi headlines russia echoes the red cross call for a daily cease fire in syria to give doctors type of baccy with the injured and bring in medicine a recent spate of violence in the syrian cities has made the regime point the finger at saudi arabia and calling the arab states on being involved in terror titans. human rights groups find the u.s. kept sending out game detainees to prisons where evidence of torture had been uncovered this despite a ban on such transfers last july the claims of new abuse have already service.

u.k. construction workers demand justice as they find out they landed on an illegal blacklist for campaigning for safer jobs and investigation found some of the information used to identify so-called troublemakers came from police. as western nations struggle with debt problems especially in western europe russia's economy has managed to stay buoyant up next dechen finance minister tells us why. hello again on the wall come to spotlight they intrude on part two i'll be in the event today my guest who's city star trek. two thousand and eleven has become a landmark for the russian economy inflation rate was the lowest in decades and

other economic indicators because of the two despite the global economic downturn morrow after decades of negotiations russia has finally been admitted to the w t o opening great investment opportunities both for russian and foreign business yet there are serious problems orders and they will discuss so what are the latest trends and forecasts for the russian economy we're asking deputy prime minister said gates structure. investment is risky at the best of times it's even more challenging one to me so one is settled america's public that keeps rocketing day by day europe is being shaken by the long lost in the euro zone crisis even china the world's second largest economy is showing signs of slowing down some economists call with a paper dragon and we want it is just for this crisis we strike this soon i mean all these turbulence in russia results investment climate improving the economy

a stable prove pound i didn't really know world prices and inflation rate last year was the lowest in two decades so i let seed in six percent. hello mr shark and walk into the show thank you very much for being with us today here on the show and i would like to ask you with a question that i got when i when i was getting ready for that and. i read that in february alone the budget deficit in russia rose nearly fourteen times now forty kinds higher than they used to be in january it reached nearly two hundred forty five million rubles and this really exceeds the forecast of your finance ministry what happened what's the reason for that after a big job done during a couple of last years. we received what we wanted to receive more.

scared you more. clearly divided this three year spending of the budget allocation money wired to the located money or by. the door ministers this deficit have something to do with the election campaign was a very nasty not it has nothing to do with the election. it's. all what will spend you to use two and a half months all was agreed in advance during the budget process or during previous previous year i've also read that russia is running a growing trade deficit well what changes shall we expect in regard to the strategy of state borrowing lineage so many broad knowledge is where quite large here feeling quite comfortable with the market conjunction and we can is a little inside the contrary and now we announced our plans have all come in

to the external debt market in a couple weeks. why the market is comfortable i think i think there are a number of reasons. clearly after the central bank of europe integration into the currency markets and fine as well as bank and. markets we have quite a huge liquidity taken by the european banks plus we have some. strange situation dealing with the investment strategies of a number of. entities and governments so in principle the. rules of economy has long down meaning that the banks. face in bigger difficulties with the they investment strategies so you know for us it's not.

it's for us it's comfortable station when we tried to war in terms which would be considered by the market and by our by us fair for both sides so. it's boring it's not in. its. does not linger story it's not true does not link could to be. your first question dealing with a budget deficit ok when talking about positive figures in any economy you speak about i mean the financials they speak about the excess or the revenues russian let me ask you can you give us the figures how much were they so that means the excess on. well frankly speaking i'm. not my own part of the job i'm not responsible for. your response what you want to think. because this

part of the of the calculation i understand that we. have the prices. for oil just twenty percent higher than it was scheduled to within the margin so as we can say that barge revenue was. higher. percent higher in in two months then it was scared. but still because of the big give it is off our minister is different to the federal ministers we have these phenom and all for huge expenditures what about the year two thousand and twelve one of the oil prices and we are planning a budget for this year and we. it was agreed between the government the problem and the reference price for always one hundred. dollars per barrel this is

as far as i understand when you're planning the borrowing russia has always been planning more borrowing inside the country then brought which turned out to be more expensive is a true one. well how we hell behavior is based on best international practices and the peace is therefore when you are supposed. not only. budgets and government expenses you are supposed to think of the development of local financial markets as well a local one markets in particular. matter of fact that the corporates boring. coming after be sober and boring so it means that the state. set ups so-called benchmarks for the

price of a different of the border and of different maturities so even at the beginning of these change as a century when the market in conditions was not so good as. now days for all of warring we were trying to remain on the markets just in order to have. to make my market develop it's very important and it is of the normal practice is that of all nations with a developed internal book what markets has for us external mike and sconce know it's a matter of fact that we are supposed to present moment it's very important for. both of them turn juncture in future. investment should signal the bore. he for the border does not appeal on the market for

a long period of time when he comes he will submit he will be supposed to pay some kind of premium but the longer you epsom from the market the higher the payment he's so that's why we have played in each year and we should. warn the minute it in international conferences lose their coverage since so these year we repeat the story as if you as it's it should be in normal conditions ok well i have read also that the finance ministry is not ruling out this zero deficit or even is three plus already this year so what are these positive expectations based on then and what will they find a result depend on well i understand my minister is looking for at least a couple of options were asked first option and i think it's the most important one

just cation of the expenditure was within the existing budget i mean and. in the process of consultations between federal bodies. expenditure would be eliminated other would appear but in principle we would remain in the same location as what is planned and agreed between the state duma and the government and the second lot on their external oil market conditions and the suspect we're thinking about the rebel and sealed the tax policy well all three of the factors looks quite promising in terms of. promoting our plans sound. original expectations for you in this year. says the surrogate star chock deputy finance minister out of the russian federation spotlight will be back

shortly after we take a break so stay where you don't. cut players. play. live. with the end of the boer war and the going away of the soviet union many people thought that nuclear weapons disappeared. the risk is not zero that something might be going off by mistake special of the founders of the nuclear weapons on hair trigger alert. because of a bit confusing i did as a three ball as an echo of it but you know if you keep spinning a trillion dollars a year on weapons of venture you're going to blow everybody up you you know people are dying from these weapons but until we actually see it people don't wake up to a new flu weapons or build the new. that represents all of the

firepower of the second world war and this second sounds is the equivalent of firepower of the world's nuclear arsenal today. sgt. fewer chances but full of life. limited time. more optimistic. the theater where the ingenious open their hearts to the rest of us. are the real limits. on our t.v. . the are losing. its.

first so. the for. the. kids who come to.

you to. say. welcome back to the spotlight i'm ali nabhan just threw one to my guest on the show today is sitting in a state of shock the deputy finance minister of russia and who is the most famous deputy minister in the russian government as said in his book by the way congratulations this is the second book on yes it's the publish what are you doing with it is it of any interest to our foreign gears of iran. while the real must be for the russian audiences it's a bit unlikely it's not it's for the russians first of all. it's. a different story as dylan was different as pics of our job.

juggling two. punch old so-called financial diplomacy or international financial relationship so there's really are sort of financial thrillers there's articles devoted to international. assistance. but there really is a financial relationship with the former republic of the soviet union. big article devoted to rush through interest shared with the international financial institutions world bank. i.m.f. all the liberal development banks and my beloved story. the. g. twenty g. eight different other economic potential collapse it isn't easy and you know we're all tell me about the g. twenty you personally took part in the g.

twenty meeting or finance ministers in mexico right so will the g. twenty summit that we're there that will take place soon will it take some important steps in reforming world financial institutions later this year. you see each year. it's just happened each year g twenty. discuss a number of police was more important one but a man a number of issues all with one is the most important for these year the most important issue is the increase in the financial capacity of the international monetary fund. this is the most urgent decisions need to be taken by the jump into nations the process of preparing the right

decisions and the right agreements but will all g twenty members ease going on it's not easy job but. even in mind with the recent developments in. these enormous job done by our european colleagues dealing with the greece financial crisis it's clear that we need to have far better prepared for calm in financial. crisis if any of course it would bet they know crisis but. we all believe that a crisis prevention strategy need to be developed as much as possible so under the mexican presidency is going to be the most important issue to be group on during the course of presidency unfortunately of course that the assignment of g.

twenty will have to play place white earlier this year but roll under circumstances in which we'll leave it there is no way out we will have to. and i wish my colleagues from mexican career success this is the recently a couple months ago actually after raul with the president you are your boss and your friend mr gordon lost his job so we have a new finance minister now though mr putin who had the election said that said it could rain is still any steam and everybody expects a major rift shuffle of the government after putting comes to power in late do you should we expect rather and major reshuffle also inside the finance ministry what's your feeling. well it's not failing but it's probably my we do have in our count three the station much alike in other developing nations

when the establishment is been kept for a while at least in their positions in order. to have the new. leaders of the ministries ministers themselves to have enough time to commit day to their positions to current continuity and i and i who did not continue eighty one the level of dignitas and especially on the level of a general director. who we would keep to these traditions of our developed nations and have these practices in place while as for the first numbers are concerned the privilege of the president to decide who would be in the in in the places as. the deputies i mean prime minister deputies and other ministers.

is there reason to believe for the russians personally for the russian businessman that there will be tax cuts especially the dissolution issues tax cuts to talk about least. i am not a member of this talk frankly speaking it's my pally it's a good sort of job to develop a policy in this field but you're right. internal business discussions within the ministry of finance within different departments are taken place and i as far as i understand the general feelings of my colleagues that is that in any case the pressure of taxation should not be increased in any way because the large oil revenues go to expect while yes partly. as a matter of fact putin has promised big. government spending to be lectured

during his election campaign if he promised everything to everybody well the fine fine the finance ministry feel what i read today that after that gracious me he would be up to new big government spending if if the new president would like to fulfill it is is up with the. i know the my colleagues. already made. computer patient i will say. about the possible outcomes or for all. the promises i would like to say for the president elect. for for the. rebalancing of state a common policy and i understand that. there are there is no water in with the minister of finance. i i know that my minister.

like to keep. the talk is. minus two plus two million that. two percent of g.d.p. in terms of budget allocation should be rebalanced within the budget meaning there is no. additional boren no additional excitation on all accounts so so or for me this nation is minutes of bill. by my colleagues. does. russian financial system is it is it influence is it harmed by the general problem is that the troubles that we have in the us do you feel this is in a negative impulse where not really you see. to have been in mind that our european partners are big in biggest markets for russian products

it's absolutely clear that we cannot. stay side from the problems which is. developing in inside the european zone so we already. come to believe that our colleagues with the. right professional i will have a professional outcome of the talks with greece the public will. stay dead. do you know the reactions of the markets tend to be opposed even many experts are still quite skeptical about what the future of your. but it's clear that step by step europeans found

mystery means and ways to control this nation's listen well a while ago everybody in the world especially your colleagues financial as they seem to prey on the international ranking actions he's now everybody seems to hate their business and he agencies and the financial stability board is going to work out some mechanism to reduce the dependency of the markets of the ranking agencies do you approve approve that and what maybe this mechanism big job is taken place in this field but i would like to correct you would be. the the groveland me is that those who make investments. rely not only on liquidity agencies but on the rule expertize of the of their investments because they tell us a lot of a stand in kind if is be approach to the idea that everyone understands that

it is impossible to get rid of ratings because that. so many different in the west coast all different cultures on our work and on financial markets wind sailing. actions. boards other financial instruments and me in particular there were teams so clearly for those who. do not have the intellectual capacity at all analytical capacity the job for. agencies are quite important but still at the same time it's clearly that in the process will decision making and we should keep the. political capitalism approach and us are paul's to make your own judgment of good for the sense of the world thank you thank you very much and just a reminder that my guest on the show today was sitting against the chap deputy

finance minister. and that's it for now from all of us here if you want to have your seems parkland doctors. will be back with more first down comments on what's going on in and outside russia until then stay with heartache and think.

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